logo

Aspects of Contract and Negligence for Business Assignment

   

Added on  2019-12-28

16 Pages5189 Words181 Views
ASPECTS OFCONTRACT ANDNEGLIGENCE FORBUSINESS

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Importance of essential elements required for the formation of valid contract.....................31.2 Impact of different types of contract......................................................................................41.3 Terms within contract and their effect...................................................................................5TASK 2............................................................................................................................................64. Case Scenario...........................................................................................................................65. Consequence of classifying the terms......................................................................................66. Case Scenario...........................................................................................................................7TASK 3............................................................................................................................................87. Contrasting liability in tort with contractual liability..............................................................88. Explaining the nature of a liability in negligence....................................................................99. Explaining the vicarious liability of a business.....................................................................11TASK 4..........................................................................................................................................1210. Case Scenario.......................................................................................................................1211. Case Scenario.......................................................................................................................13CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................152

INTRODUCTIONUK government mainly focuses on imposing different laws that is contractual law as wellas tort law whose key objective is to encourage fairness and equality while performing thecommercial transaction as well as to secure the interest of individual (Bar-Gill and Ben-Shahar,2012). Moreover, the contract law is relevant in the condition when parties reciprocally agrees toformulate the contractual deed with the key aim to accomplish the promise. Thus, another lawthat is negligence law is applicable when there is no contractual agreement among the parties andit results in injury to the other party. Presently, the report focuses on understanding both the law as it focuses on differentprovisions related with the damages and injury as in the situation if parties are unable to performtheir duty with care they are entitled to pay compensation for the injury and damages that isoccurred to the innocent party. TASK 11.1 Importance of essential elements required for the formation of valid contractContract is considered as the binding or written statement among the different parties thatis enforced judicially (Bix and Bix, 2012). The valid contract constitutes different terms as wellas conditions that is abided on both the parties that they have to perform accordant with the termsand conditions. For formulating the valid contract among the different parties there are differentelements that need to be focused on (Main Elements constituting A Valid Contract, 2016). Theseelements basically include-1.Offer and acceptance- The foremost element that is required for developing the validcontract is related with valid offer and acceptance. Offer is termed as the proposal that isgiven by the parties to the other parties or to the general public that need to accepted bythe parties in order to perform the activity (Hall, Howells and Watson, 2012). While,acceptance is the response that is provided by party in regards with the offer provided bythe party. Moreover, it has been stated that while accepting the offer party may notpresent condition. The element is further explained as the offer that is offered by the partyand other accepts the offer then it constitute he valid contract among those parties. 3

2.Competencies of parties- Another essential element that is required for formulation ofvalid contract include that the parties those who are entering into the valid contract mustbe competent enough for formulating the contract. Accordant with he judicial systemindividual or party must have attain the age limit of 18 years or they may not be ofunsound mind, lunatic or alcoholic person (Lewis and Morris, 2012). The parties musthave attain the age of 18 as well as must be sound mind are in the condition to engagewithin the contractual relationship. 3.Intention to create legal relationship- Furthermore, for formulating the valid contractanother significant element is related with the intention of the parties. Therefore, theparties those who are entering into the contractual deed have fair and ethical intention toenter within the valid contract (Loos and et.al., 2011). For instance, if the parties may nothave fair purpose for creating legal relationship in such situation there is not validcontract formulated among the parties. 1.2 Impact of different types of contractParties those who are willing to enter into the contract are needed to select suitable typesor form of contract accordant with the need and requirement (Oliphant, 2013). Thus it is becausedifferent types of contract have assorted impact on the performance of contractual parties. Thedifferent types of contract and their impact are measured as follows-Written contractOne of the most effectual kind of contracts that is used within the business includewritten contract. As, in the written agreement parties mainly focuses on different terms andconditions and mutually agrees to put into the agreement (Van Dam, 2013). Furthermore, partiesare abide to follow and enact accordant with the condition and terms. The effect of writtencontract is that it act as the proof to parties that they have been entered into the contractualrelationship. Moreover, they are also liable for performing and executing the activities accordingto the conditions mentioned within the written contract (Weinbaum, 2011). Distance sellingAnother types of contract for parties who are present at the distant places and want toenter into the contract must focuses on distance selling contract (Wei, 2011). Under this contractparties are not in the condition to meet with each other at the common place in order to negotiate4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Principles of Liability in Negligence in Business - Report
|9
|2831
|93

Aspect of Contract and Negligence for Business
|13
|4158
|139

Aspects of Contract and Negligence for Business
|15
|5147
|145

Aspects of Contract & Negligence in Business : Report
|9
|2766
|43

Aspects of Contract and Negligence for Business : essential elements of a valid contract
|15
|5258
|162

Aspects of Contract and Negligence for Business- Report
|12
|4138
|68